CPTPP Impact on UK Businesses 2023-05-18
2023-05-18
TAGS
Response quality
Questions & Answers
Q1
Direct Answer
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Context
The question follows an announcement about the CPTPP agreement, which is expected to offer new opportunities for UK businesses.
What assessment her Department has made of the potential impact of the comprehensive and progressive agreement for trans-Pacific partnership on UK businesses?
We have secured a deal that offers brilliant new opportunities for British businesses by getting an agreement in principle to the comprehensive and progressive agreement for trans-Pacific partnership. Our exporters will have greater opportunities to sell their excellent products to some of the world's biggest markets in the Americas and Asia-Pacific, with the bloc set to account for 15% of global GDP once the UK joins.
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Assessment & feedback
Response accuracy
Q2
Direct Answer
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Context
The question follows a previous Q&A on CPTPP, focusing now on the UK's trading relationship with Brazil.
Will the Secretary of State update the House on what her Department is doing to build on that trading relationship with Brazil?
Our bilateral trade with Brazil increased to £7.7 billion in the 12 months ending December 2022, and the signing of the UK-Brazil double taxation agreement in November represents a significant step in enhancing trade across all sectors.
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Assessment & feedback
Response accuracy
Q3
Partial Answer
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Context
The question concerns the integration of mutual recognition agreements into trade deals with Latin America, particularly focusing on student and language exchanges.
What assessment has the Secretary of State made of the merits of integrating mutual recognition of higher education qualifications into trade negotiations?
We do look at mutual recognition for qualifications in trade deals, but most of the time they tend to be in separate agreements. Because of the nature of how free trade agreements are structured, we try to ensure that they are focused specifically on trade.
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Assessment & feedback
specific benefits or integration methods
Separate Agreements
Response accuracy
Q4
Partial Answer
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Context
The question challenges the benefits of joining CPTPP, particularly regarding its limited economic growth projection and provisions allowing foreign companies to bypass Parliament.
Will the Secretary of State tell the House why, in the accession talks, she was not able to resist giving some overseas corporate giants the right to access secret courts that could override the will of the British people, bypass Parliament and cost British taxpayers significant sums of money?
I believe that the hon. Gentleman is referring to investor dispute settlement mechanisms. We have used them in this country for many years, and that has protected British companies. He is wrong about the CPTPP not bringing much economic growth to the country—it will bring billions.
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Assessment & feedback
specific reasons behind granting access to secret courts
Protected British Companies
Wrong About Economic Impact
Response accuracy